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Exercises - Cash and Receivables

The fourth document lists unadjusted and adjusted cash on hand, stale checks, post-dated checks, bank balances including an overdraft, petty cash including a compensating variance, savings accounts, and

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21 views

Exercises - Cash and Receivables

The fourth document lists unadjusted and adjusted cash on hand, stale checks, post-dated checks, bank balances including an overdraft, petty cash including a compensating variance, savings accounts, and

Uploaded by

jp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Ex.

2-3
Particulars Unadjusted Adjusted
Checking account - O/S - P26,000 100,000.00 74,000.00
Money order - 120 days 200,000.00 -
Treasury Bill - August 2- October 30, 2019 600,000.00 600,000.00
Treasury Bill - September 1-Dcember 30, 2019 800,000.00 -
1,700,000.00 674,000.00
Ex. 2-4
Particulars Unadjusted Adjusted
Cash and Cash equivalent - Unadjusted 5,465,000.00 5,465,000.00
Certificate of deposits - 180 days 650,000.00 (650,000.00)
Post dated check - January 6, 2020 225,000.00 (225,000.00)
Special Cash Fund - Plant expansion 1,200,000.00 (1,200,000.00)
Commercial Paper - due in 100 days 1,000,000.00 (1,000,000.00)
Currencies and Coins in PCF - including CV-P2,500 16,000.00 2,500.00
Compensating Balance - legally restricted 450,000.00 (450,000.00)
1,937,500.00
Ex. 2-6
Particulars Unadjusted Adjusted
Checkbook balance 1,200,000.00 1,200,000.00
Unreleased checks - outstanding 300,000.00 300,000.00
NSF check returned by the bank 50,000.00 50,000.00
Post dated check - January 4, 2020 150,000.00 (150,000.00)
Total 1,700,000.00 1,400,000.00
Ex. 2-7
Particulars Unadjusted Adjusted
Cash on hand including 650,000.00 650,000.00
Stale Check 60,000.00 (60,000.00)
Post dated check 30,000.00 (30,000.00)
Cash in bank including P40,000 bank overdraft 450,000.00 490,000.00
Petty Cash Fund - including CV-P12,500 18,000.00 5,500.00
Savings account - for plant expansion 550,000.00 -
1,758,000.00 1,055,500.00
Ex. 2-8
Particulars Unadjusted Adjusted
Checking account 1,200,000.00 1,200,000.00
Savings account balance 1,500,000.00 1,500,000.00
Cash on hand 10,000.00 10,000.00
Travel advance 120,000.00 -
Special Cash Fund - Retirement of LTA 1,000,000.00 -
Total 3,830,000.00 2,710,000.00
SALES
Total Sales Percentage (%) Amount
Cash Sales 12,000,000.00 10% 1,200,000.00
Accounts Receivable 12,000,000.00 90% 10,800,000.00
Total 12,000,000.00

Accounts Receivable
DEBIT CREDIT BALANCE
1,000,000.00
10,800,000.00 8,360,000.00 3,440,000.00
400,000.00 3,040,000.00
40,000.00 3,000,000.00

Allowance for D/A


DEBIT CREDIT BALANCE
- 40,000.00
40,000.00 471,000.00 471,000.00
Exercise 3-5
1 Present value of principal
Present value of interest
Initial amount of note

2 Date Interest income Cash receipt


1/1/2020
6/30/2020 62,950.39 70,000.00
12/31/2020 62,527.42 70,000.00

6/30/2021 62,079.06 70,000.00


12/31/2021 61,603.91 70,000.00
6/30/2022 61,100.04 70,000.00
12/31/2022 60,566.04 70,000.00

2,020.00 2,021.00
3 30-Jun 62,950.39 62,079.06
31-Dec 62,527.42 61,603.81
Interest income for the year 125,477.81 123,682.87
704960.54
344212.7
1049173.14

Ammortization Carrying amount


1,049,173.24
(7,049.61) 1,042,123.64
(7,472.58) 1,034,651.06

(7,920.94) 1,026,730.12
(8,396.19) 1,018,333.93
(8,899.96) 1,009,433.96
(9,433.96) 1,000,000.00

2,022.00
61,100.04
60,566.04
121,666.07

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